Anchorage Digital, a regulated crypto platform of disclosure for institutions, announces custody support for a leading Bitcoin ($BTC) Layer-2 solution platform, Stacks. The ground purpose of this strategic move is to boost institutional interest in the evolving blockchain and crypto space. Anchorage Digital shared this expansion plan with the community through a social media platform, X.

In our first-ever move into Bitcoin Layer-2 solutions, @Anchorage Digital is proud to announce custody support for the @Stacks ($STX) token.We’re excited to provide safe, secure access to an innovative Bitcoin L2 network for institutions in the ecosystem.Learn more :… pic.twitter.com/36moU932Vv

— Anchorage Digital (@Anchorage) September 4, 2024

This custody support for Bitcoin L2 is a significant step in terms of Anchorage Digital’s first foray into the Bitcoin ($BTC) Layer-2 technologies. Through this support, Anchorage Digital will offer institutions secure, reliable, and regulated access to evolving financial solutions based on blockchain technology. 

With The Support of Anchorage Digital, Stacks Offers A Range of Financial Products

As Anchorage Digital has declared its support for Stacks, now institutions will have the opportunity to secure the custody of Stacks Token ($STX) at Anchorage Digital platform through its Anchorage Digital Bank N.A. Additionally, this support also favors the Bitcoin ($BTC) holders to access the capital with the confidence that their crypto assets are being secured at Anchorage Digital.

Anchorage Digital’s representative proudly shared the details of this support and marked it a significant milestone in serving the crypto community in a better way. The Anchorage Digital team stated, “We’re excited to provide safe, secure access to an innovative Bitcoin Layer-2 network for institutions in the ecosystem.”

Anchorage Digital Enhances Bitcoin’s Utility with Stacks Custody Support

Anchorage Digital’s custody support for Stacks is the result of rising the crypto community’s demand for Bitcoin ($BTC) Layer-2 solutions. This helps in scaling Bitcoin ($BTC) and to carry out robust, efficient, cost-effective, and reliable on-chain transactions. Additionally, it also expands the utility of Bitcoin by unlocking new and advanced features. As Bitcoin has become completely programmable, new use cases could unlock hidden capital, estimated to be around $800 billion.